My husband gets emails called A Learning a Day. He forwarded this along to the rest of us.
It made a big impact on me and I had to share this with you...
I love every reminder I can get about the story of Ronald Read.
Ronald Read worked as a gas station attendant and janitor at JC Penney’s. He was known to be a frugal man. After losing his wife at 50, he lived alone for the rest of his life and enjoyed chopping wood.
After his death, folks in his community realized he had left two million dollars to his stepchildren and an additional six million dollars to the local library and hospital.
How? He consistently invested his savings in (an eventual portfolio of 95) blue-chip companies whose businesses he understood and held their stock for most of the rest of his life.
There are many fascinating lessons from his story – making a life by what we give vs. get, the importance of savings rate, time in the market vs. timing the market, etc.
But, to me, one that always stands out is the transformative power compound interest can have in our life. Small consistent investments in all important areas of our life—health, money, learning, relationships—compound in magical ways over time.
Here’s to making one such investment today…
Invest in yourself and your health every single day!
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P.S. A follow up to my high school friend who made a plan and stuck with it. 4-1/2 months later she reached her goal weight. She made a plan and stuck to it. Weight loss is never a quick fix. But changing habits will pay off over time!